Bithumb, South Korea’s leading cryptocurrency exchange is planning to pump as much as $8 million investments in the initiatives launched in the regulatory free zone in Busan, the country’s second largest city in terms of population and the blockchain regulatory sandbox.
The investment will be carried out through GCX Alliance a wholly-owned subsidiary of Bithumb.
Bithumb has expressed its interest to be a part of the Tongsan Asset Exchange, an investment that will likely position the exchange right at the heart of the Korean crypto industry.
Bithumb is one of the earliest crypto exchanges in South Korea, and has been played a prominent role in shaping the country’s crypto industry.
In the past few months, the exchange has been making major moves with international expansion into Singapore and India.
Bithumb and Korea’s Financial Services Commission will discuss more details about the investment later this month